There is nothing much to say about the market during this period. The bearish sentiment is greater than the bullish sentiment. You can take advantage of this period to take a good rest. Don't worry, there will be opportunities for you to buy at the bottom in the currency circle.

It happened that I met some rich people by chance these two days. Let's talk about how to become rich. There is a saying that ordinary people become rich by having a good relationship with money. The usual paths may be as follows:

1. Good luck, seize a big opportunity given to you by God;

2. Inherit money from your parents;

3. Get to know powerful senior executives or follow a rich and powerful boss.

But since the above-mentioned paths are fate, it means that they are unattainable.

The most common path is basically to work hard to become an executive, start a business to become a boss, save money, spend time and energy to study investment and financial management, and slowly become rich.

I think that slowly becoming rich is the shortcut for ordinary people to become rich. So when you want to become a rich person, you can take the initiative to optimize this shortcut in terms of methods and techniques (such as spending more time and energy to quickly become a senior executive or research investment and financial management), rather than always thinking about how to get rich overnight.

As a guest speaker, I attended a Web2 entrepreneur gathering two days ago and shared my views on Crypto:

1. Decentralization and transparency are the core spirit of Crypto. Decentralization represents security and prevention of monopoly evil. Transparency refers to transparency of behavior, not transparency of privacy.

2. Token economy is the core attribute of Crypto. Understanding Crypto from the perspective of assets is more in line with the current situation.

3. The representative manifestation of the last bull market and this bull market is still innovation at the level of asset liquidity.

4. The core narrative of this bull market is: BTC+MEME. BTC = safe-haven assets + financial experiments of new intelligent human society; MEME = the value embodiment of democratic system reform in a turbulent world.

5. The dividends of the currency circle: Steady money is more lasting than gambling. Hoarding coins - the stupidest behavior is the smartest way to make money; investing in asset allocation teams - it is better to leave professional matters to professionals than blindly investing.

6. Crypto is not a field where you can pick up money everywhere. If you think you can pick up money, you are likely to pick up shit.

7. Don’t get involved in Crypto with a gambler’s mentality—few people can earn Alpha returns.

8. Don’t easily believe what others say about investment and money-making opportunities—don’t trust people who are suspicious, and don’t doubt people who are trustworthy.

9. Don’t easily invest in primary projects, especially projects that cut leeks—you will have to pay back sooner or later.

10. Don’t be FOMO—there are always opportunities in the cryptocurrency circle.

11. The last point: in a field full of asset speculation/investment temptations, you must have a positive mind and a bottom line. Compared with this point, the above points are not important. #Crypto🚀🚀#BTC☀ $BTC $ETH $BNB

Recent Thoughts (3)

How to View MEME

I have to admit that I was biased against MEME until recently. This bias came from the fact that MEME is always driven by emotional hype, and from the fact that I did not believe in or had not deeply felt the power of "belief". But to be a qualified investor, I have always believed that I should let go of my ego, so from the exchanges with several friends and the learning I have done some time ago, I have slowly corrected my bias.

I believe that in Web3 or blockchain, what exists is reasonable. Just like what I said before, "believe and maintain what you believe in", in a world that advocates decentralization, I think this is a spiritual core, and MEME is in line with this spiritual core. So it is indeed impossible to view MEME with the traditional Web2 investment logic.

So what kind of MEME would I approve of? First, I would look at the narrative support behind the emotion - whether it is a vision of greater revolutionary change that wins the consensus of more people; second, whether there are positive externalities and the possibility of helping to solve some problems that exist in real life in this world. #memecoin🚀🚀🚀 $PEPE $SHIB $DOGE

Recent Thoughts (2)

What do you think of TGbot

TGBot is a third-party application running in Telegram. It is backed by a huge social ecosystem like Telegram, but its main function is to integrate with different chains. It is the most commonly used tool for users who like to hunt for local dogs and snipe new coins. This group of people certainly has a great influence in Web3. After all, one of the core values ​​of this industry is that it provides many potential investment/speculation opportunities. It may indeed be a profitable industry because it is related to transactions, but I think that if we regard Web3 or blockchain as a long-term development industry, just as some people always like to compare it to the Internet in the 1990s, if there is only transactions, then I believe it will not really help mass adoption.

Recent Thoughts (1)

What do you think of Web3 or blockchain?

The answer to this question is actually thousands of people ahead of me. My view on Web3 or blockchain is that one person or a group of people "sells" an idea or vision and raises funds from the public. Those who agree and participate are rewarded with tokens. In order to make the tokens effective or circulate, they are given financial attributes. In simple terms, it is a consensus of a group of people covered with a financial coat, and then they continue to look for utility scenarios that tokens can empower.

The butt determines the head. Everyone has different motivations for entering this field. Some people regard Web3 or blockchain as an innovative force for social change, while others simply regard Web3 or blockchain as a casino. But no matter what the motivation is, in Web3 and blockchain, believe in and maintain what you believe in. This is the essential difference between Web3 and traditional Internet.

Can TG bot be a separate track in Web3? In my opinion, it cannot. If it is to be a separate track, three specific conditions are required: ① This track solves the real problems of blockchain; ② This track helps blockchain Web3 mass adoption; ③ This track has a sufficiently differentiated narrative.

1⃣ From condition ①, TG bot does not solve the real problems of blockchain such as expansion, privacy and security.

2⃣ From condition ②, the emergence of TG bot's subdivision field helps the prosperity of Ton ecology, but it has limited help in increasing Web3 mass adoption. Who will use TG bot from the beginning among new users?🤔

3⃣ From condition ③, TG bot does not have a sufficiently differentiated narrative.

In summary, I think the existence of TG bot is due to the need for the prosperity of Ton ecology, so the development prospects of TG bot are very dependent on the development of Ton. Of course, there will be a view that TG bot can be expanded to channels similar to Whatsapp and Discord. The question is: Is a field that relies heavily on channels worth investing in? 🧐

Even though TG bot has a low market entry threshold and is easy to be imitated and copied, and there is a serious homogeneity phenomenon between projects. However, many of the existing users of Web3 need TG bot to trade, brush airdrops, snipe new coins, follow orders, monitor wallet addresses, and issue price warnings. Therefore, there must be many projects in the TG bot segment. But from the perspective of VC investment, TG bot may not be one of the many good choices.

In the past few years of investment, while improving my investment analysis professional ability, I have also been constantly thinking and summarizing how to view investment and investor identity.

The following is a summary of my feelings in the past few years:

About investment

- The essence of investment: a cost-benefit ratio calculation system, ROI>1. Venture capital = human certainty + uncertainty of things, pay for the uncertainty of things, not for the uncertainty of people.

- The bottom line of investment: don't lose money, don't lose money, don't lose money-investment is most taboo based on feelings (unless it is a talented player), based on human feelings and emotions.

- Investment skills: whether a person's investment ability is strong or not lies in observing whether his ability to weigh is strong or not. Investment skills are the skills of weighing.

About the identity of investors

- Self-drive and independent thinking are the basic color of being an investor.

- Investors never put themselves in the position of workers to look at problems and do things. Workers do things to complete something, and investors do things to accomplish something.

- Efficiency and purposefulness are the most basic manifestations of a qualified investor.

- Investors attach great importance to the identity of "investors": self-confidence and respect for reputation.

- Ability that a qualified investor should have: first, focus, second, let go of ego, third, patience, and finally, the ability to grasp the cycle. #投资者教育 #投资日记📓

I have looked at a lot of projects in different fields in the past two days, and I found that there are too many reinventing the wheel in the blockchain. To give a simple example, there is a lending protocol on Ethereum, and other public chains must also have their own lending protocols. This logic is fine in a so-called decentralized and tokenized world. After all, each blockchain must have its own ecosystem to demonstrate the spirit of decentralization, and it also needs a variety of tokens to make the ecosystem prosperous and active. But the disadvantages are obvious. Many innovations are not based on doing better than competitors, but spending resources on duplicate construction. From this perspective, blockchain practitioners should do more to improve the efficiency of human, capital and other resources. #BTC走势分析 #BTC

Some time ago, I watched the sixth game between the Los Angeles Clippers and the Dallas Mavericks. Although I am a fan of George, Leonard, Harden, and Westbrook, the Dallas Mavericks won the game in the end. Why did the Mavericks win? I think there are two core reasons:

① Youth, youth is capital, which is a simple fact in sports.

② Fast offense and defense conversion. When the opponent's ball does not go in, quickly advance, either attack the basket or directly shoot three points, simple, direct, and efficient.

The way is simple, and many experiences and experiences in sports games can be learned and applied to life or work. For example, in the fast-paced encryption industry, community consensus is emphasized, so what is consensus?

My understanding of consensus is like the offense and defense conversion in basketball games. I think it needs to be simple, direct, and efficient. If you are an entrepreneur, you need to clearly and directly express what you want to do, and reflect efficient action and execution. If someone agrees with your vision and actions, they will participate by paying money or spending time. This is consensus.

Therefore, consensus does not need routines or fancy language skills. Simple, direct and efficient expression and action are the fastest way to build consensus.

In the crypto space, MEMECOIN is more influenced by emotions rather than focusing on its fundamentals. I think investing in Meme is a risky behavior. Investors need not only extraordinary courage but also good luck. In my opinion, when investing in Meme, I prefer to: ① look at the narrative support behind the emotions - a bigger vision will win more people's consensus; ② grasp the rhythm of entry and exit. Memecoin is too volatile and needs to learn to stop profit in time.

The most difficult thing to prove about Memecoin is its durability. It represents the active market sentiment in the crypto market, but if the crypto industry is to continue to move forward, then projects or tokens that solve crypto market problems are more meaningful to this field. In my opinion, value investing is to invest in excellent projects and entrepreneurs who can truly solve the authenticity problems in the crypto market.

The best way is to give Meme positive externalities. For example, if a non-profit organization that protects elephants issues an elephant Meme coin, assuming that I am an environmentalist, I will buy Meme coins to become a member of this non-profit organization because I recognize their consensus on protecting elephants. When the price of the Meme coin rises, the charity can set up a fund or sell part of the proceeds as operating and publicity expenses for protecting elephants. Of course, all this needs to ensure the transparency of fund expenditure.

Rather than predicting who will reach the billion-dollar level and who will be the first, let us judge and think about which one will achieve positive externalities first. #Meme代币 #Meme

I am bullish on investing in BTC and ETH for the following reasons:

BTC's adoption of proof-of-work is essentially a reflection of the scarcity of items, and the properties of digital gold will become increasingly solid.

ETH's shift to POS is essentially a reflection of the development of the technological ecosystem. Blockchain technology rollup, Layer2, ZK, AA, Restaking and other new technologies and narratives were proposed and tried in the early days of Ethereum.

Bitcoin and Ethereum have proven their niche in the blockchain world. #BTC🔥🔥🔥🔥 #ETHFI #ETH

My opinion on the Restaking track:
1. The current success of LRT depends on: cycle continuity + sustainable development of the Ethereum ecosystem
2. Liquidity and TVL are the core evaluation criteria, and the winner takes all
3. Good investment target: Restaking underlying infrastructure + leading protocol (high TVL + high APR + many supporting assets)
4. Projects that allocate more tokens to the community have more advantages because they win people's hearts and have high TVL #ether.fi #restaking

The role of "digital gold" with a low market capitalization brings very considerable room for growth to Bitcoin. But in my opinion, it is far from enough to understand Bitcoin purely from the perspective of “digital gold”. In other words, I believe that Bitcoin is far more than just "digital gold". Its imagination is higher than that of gold.

There are two main views: 1. Gold is currency, but Bitcoin is currency + technology ecosystem. Since currency appeared in human society, it has mainly carried three functions: ① value storage; ② value measurement; ③ medium of exchange. From a monetary perspective, there is no doubt that both Bitcoin and gold have such capabilities. But the advantage of Bitcoin over gold is that Bitcoin not only has the properties of currency, but also a new technological innovation. This is incomparable to gold. Because of its technical attributes, the blockchain represented by Bitcoin has more flexible scalability and is easier to derive and develop a technological ecosystem. The technical attributes of Bitcoin will combine with its monetary attributes to bring greater room for imagination.

2. Gold is prepared for human society, while Bitcoin is prepared for new intelligent human society. The so-called human society includes different social forms such as slave society, feudal society, and capitalist society. In these forms, gold has been with us for thousands of years. In my opinion, the understanding of the new intelligent human society is that future humans will create a completely different social form from the present through stronger intelligence:
①Interstellar society: We are no longer just people on earth, but will become people in the universe. Musk’s plan to colonize Mars already shows that some adventurists in the human species are making strides in this direction.
②AI human society: Yes, I am not talking about humans + AI, but AI humans. This means that people will not only coexist with the AI ​​they create, but people themselves will also have certain AI functions.

Whether it is an interstellar society or an AI human society, a social and economic system will need to be established, and currency will also need to serve as a medium for value storage, value measurement, and value exchange. At least for now, no other item is more suitable than Bitcoin. #BTC #BTC牛逼 #BTCpredictions $BTC

Since the creation of the Bitcoin genesis block in 2009, early participants in Bitcoin have reaped huge rewards. When you prove that you have made money on Bitcoin, you either prove that your knowledge is deep enough or you are lucky enough.

With the recognition of Bitcoin spot ETF in January 2024, I believe that Bitcoin has stood at a new starting point. From this starting point, my judgment is:

① The role of Bitcoin as a safe-haven asset will become increasingly stronger, and the overall chips will become more and more concentrated in the hands of institutions and large investors. Retail investors’ investment demand for Bitcoin will be stimulated, but new supply will be needed.

②The attributes of Bitcoin’s technical ecology have just begun to emerge. Both long-termists and investors/speculators will intentionally or unintentionally create and explore new Alpha opportunities. The appearance of the inscription can be said to be an attempt. The reason why I use the word "try" is because I don't know whether the inscription is the correct answer or if there are other possibilities. But if one day you make money on Bitcoin, it’s still the same sentence, either it proves that your knowledge is deep enough, or it proves that you are lucky enough. #BTC #BTC牛逼 #BTC.😉. $BTC

#BTC牛逼 #ETFbitcoin Bitcoin hit a new high a few days ago, and everyone's FOMO emotions followed. But the more we are in this atmosphere, the more we should withdraw from it, and it is necessary to look back at the birth and development of Bitcoin.

In my opinion, gold is currency, but Bitcoin is currency + technology ecology. Gold is prepared for human society, while Bitcoin is prepared for new intelligent human society.

Standing at a new starting point, the role of Bitcoin as a safe-haven asset will become stronger and stronger, and the overall chips will become more and more concentrated in the hands of institutions and large investors. Retail investors’ demand for Bitcoin investment will be stimulated, but new supply will need to be provided. . The attributes of the Bitcoin technology ecosystem have just begun to emerge. Both long-termists and investors/speculators will intentionally or unintentionally create and explore new Alpha opportunities. $BTC #BTC